Wall Street brokerages expect Tsakos Energy Navigation Ltd (NYSE:TNP) to report sales of $105.94 million for the current quarter, Zacks reports. Five analysts have provided estimates for Tsakos Energy Navigation’s earnings, with estimates ranging from $103.05 million to $110.10 million. Tsakos Energy Navigation posted sales of $81.84 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.4%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, December 5th.

On average, analysts expect that Tsakos Energy Navigation will report full-year sales of $105.94 million for the current year, with estimates ranging from $428.59 million to $461.92 million. For the next financial year, analysts expect that the company will post sales of $492.57 million per share, with estimates ranging from $465.09 million to $528.71 million. Zacks’ sales averages are an average based on a survey of research firms that cover Tsakos Energy Navigation.

Tsakos Energy Navigation (NYSE:TNP) last released its quarterly earnings data on Friday, September 15th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.08). The company had revenue of $104.06 million during the quarter, compared to analysts’ expectations of $108.51 million. Tsakos Energy Navigation had a net margin of 6.86% and a return on equity of 2.48%.

A number of brokerages have weighed in on TNP. Wells Fargo & Company cut shares of Tsakos Energy Navigation from an “outperform” rating to a “market perform” rating and set a $3.00 price target for the company. in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Tsakos Energy Navigation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Cowen and Company lowered their price objective on shares of Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Maxim Group reissued a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a research note on Monday, September 18th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $5.57.

Tsakos Energy Navigation (NYSE:TNP) traded up 1.11% during midday trading on Monday, reaching $4.56. 287,076 shares of the company’s stock traded hands. The firm’s 50-day moving average is $4.49 and its 200-day moving average is $4.63. The company has a market capitalization of $384.73 million, a price-to-earnings ratio of 23.15 and a beta of 1.70. Tsakos Energy Navigation has a 1-year low of $3.92 and a 1-year high of $5.28.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, November 9th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 4.39%. Tsakos Energy Navigation’s dividend payout ratio is currently 95.24%.

A number of institutional investors have recently modified their holdings of TNP. Northern Trust Corp lifted its stake in Tsakos Energy Navigation by 795.2% in the second quarter. Northern Trust Corp now owns 818,197 shares of the shipping company’s stock worth $3,928,000 after acquiring an additional 726,800 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Tsakos Energy Navigation by 41.8% in the second quarter. Russell Investments Group Ltd. now owns 1,738,272 shares of the shipping company’s stock worth $8,343,000 after acquiring an additional 512,292 shares during the last quarter. Old West Investment Management LLC lifted its stake in Tsakos Energy Navigation by 107.2% in the first quarter. Old West Investment Management LLC now owns 936,546 shares of the shipping company’s stock worth $4,486,000 after acquiring an additional 484,510 shares during the last quarter. Global X Management Co. LLC lifted its stake in Tsakos Energy Navigation by 22.8% in the second quarter. Global X Management Co. LLC now owns 1,345,697 shares of the shipping company’s stock worth $6,459,000 after acquiring an additional 249,746 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Tsakos Energy Navigation by 124.0% in the first quarter. Morgan Stanley now owns 444,556 shares of the shipping company’s stock worth $2,129,000 after acquiring an additional 246,081 shares during the last quarter. Institutional investors own 25.98% of the company’s stock.

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Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 57 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.

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Earnings History and Estimates for Tsakos Energy Navigation (NYSE:TNP)

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